Allspring Global Investments Holdings LLC Has $10.29 Million Stock Holdings in ING Group, N.V. $ING

Allspring Global Investments Holdings LLC trimmed its stake in shares of ING Group, N.V. (NYSE:ING) by 6.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 383,964 shares of the financial services provider’s stock after selling 27,058 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in ING Group were worth $10,294,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ING. Massachusetts Financial Services Co. MA increased its stake in ING Group by 28.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 717,950 shares of the financial services provider’s stock worth $20,103,000 after acquiring an additional 157,111 shares during the period. First Pacific Financial lifted its position in shares of ING Group by 665.4% during the 4th quarter. First Pacific Financial now owns 44,842 shares of the financial services provider’s stock valued at $1,256,000 after acquiring an additional 38,983 shares during the period. US Bancorp DE lifted its position in shares of ING Group by 12.6% during the 4th quarter. US Bancorp DE now owns 429,176 shares of the financial services provider’s stock valued at $12,017,000 after acquiring an additional 48,174 shares during the period. Themes Management Co LLC acquired a new stake in shares of ING Group during the 4th quarter worth $942,000. Finally, Parr Mcknight Wealth Management Group LLC grew its holdings in shares of ING Group by 954.1% during the 1st quarter. Parr Mcknight Wealth Management Group LLC now owns 101,528 shares of the financial services provider’s stock worth $2,645,000 after purchasing an additional 91,896 shares in the last quarter. 4.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ING has been the topic of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of ING Group in a research report on Friday, May 29th. Keefe, Bruyette & Woods raised shares of ING Group from a “moderate sell” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Zacks Research downgraded shares of ING Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

ING Group Stock Up 0.7%

Shares of ING opened at $33.34 on Thursday. The stock has a fifty day moving average of $31.18 and a 200-day moving average of $29.29. ING Group, N.V. has a 52 week low of $22.53 and a 52 week high of $33.46. The stock has a market capitalization of $97.04 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 1.06 and a beta of 0.85. The company has a debt-to-equity ratio of 2.73, a quick ratio of 1.11 and a current ratio of 1.11.

ING Group (NYSE:ING) last released its quarterly earnings results on Friday, May 1st. The financial services provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. ING Group had a return on equity of 12.27% and a net margin of 27.68%.The company had revenue of $616.97 million for the quarter, compared to analysts’ expectations of $6.86 billion. As a group, sell-side analysts anticipate that ING Group, N.V. will post 2.78 earnings per share for the current fiscal year.

ING Group Profile

ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.

ING’s principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.